Just last night I was having a hard time finding rent data on a smaller market and Googled *town name, apartments for rent, and got a few listings that weren’t on the main sites.

I'd like to build on it (if anyone familiar with the area has a contractor they'd recommend I'm collecting names!)

The title is now in your name, so who the previous owner was shouldn't matter.

- - - - - - - Remember the name of the game is "How do I profitably solve problems for the people I want to work with!"

Below are some general notes on DSCR loans:* usually used for single family or 2-8 multi family unit properties (fits your scenario)* must be for investment, non owner occupied (if looking for a product for alternative qualifying solutions for owner occupied there are other products)* can close in a personal name or LLC* usually 80% LTV for a purchase (20% down payment) & usually 75-80% LTV for cash out refis* prepayment penalties vary and are optional, but the higher the prepayment penalty, the lower the rate / options typical range from no prepay all the way up to 5 year prepay and structures vary for how those penalties work (3 year is my most popular by far)* appraisal most likely required and paid out of pocket during transaction* can be used for long term, mid term, or short term rental properties * generally 1%+ is the desired DSCR ratio but you get better rates if the ratio is higher (usually rate breaks kick in at 1.15%+ or 1.25%+) and you can still get the loan done if ratio is lower than 1% but the rate will reflect that (DM me if you wand help learning how to calculate the ratio)* the average time to close is 21-30 days* fees vary lender to lender and product to product, but $1595 underwriting plus title fees is pretty standard* 700+ credit is preferred to get max LTV, but plenty of options if credit falls below that* a typical loan minimum is $75k (have limited options for $50k+) and typical loan maximum is $3-4m (have limited options for $4m+)* 3 months reserves usually required, having 6+ months will usually result in better loan terms, 0 reserves can still get the job done if you go with a program that allows you to use the cash flow as reserves* 30 year fixed, IO, and ARMS available

They would rather not go through the paperwork hassle of purchasing another house here themselves; they would prefer that my husband and I purchase a house in our name and they will rent it from us. 

Here the 2 (two percent) / 1 (one percent year two) name. 

When I did my research on the owners names , I saw there was mortgages in their names but assumed since they were so old they were paid off.

While I only have good things to say about him, I don't want his name showing up in a negative light being associated with this post. 

Anyways, here's what I've came up with:++++++++[TODAY’S DATE][RESIDENT’S NAME][STREET ADDRESS][APARTMENT NUMBER][CITY, STATE/PROVINCE ZIP/POSTAL CODE] Re: New Landlord Transition LetterDear Mr.